All Tax articles – Page 2
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NewsBusiness rates reform promises rapidly unravel
Fury is mounting over eye-watering increases to rateable values, which will see an average pub pay nearly £13k more in business rates over three years, as rates climb 76% for pubs and 115% for hotels
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OpinionBusiness rates changes ‘gaslighting at its worst’
Promising to level the playing field with online giants, the government’s new business rates plan is leaving many hospitality operators facing material increases in their tax burden
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NewsUKH: Changes to unfair dismissal plans ‘pragmatic’
The government’s decision to reduce the qualifying period for unfair dismissal to six months ‘addresses one of hospitality businesses key concerns’, the trade body says.
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Analysis & InsightBudget reaction: ‘Our only option is to look for growth overseas’
The entrepreneur behind Fallow cautioned that expanding in the UK was ‘simply not worth the cost’ under the current tax regime, while Markus Thesleff warned investors were deserting the UK
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NewsSector anger as business rates reform ‘not delivered in full’
The government’s decision to give hospitality only a quarter of the rates discount it originally proposed has been derided with warnings it’s not enough to offset the loss of reliefs
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NewsHospitality reacts with frustration as budget announced
The Chancellor’s fiscal statement has been met with anger and exasperation, with many warning the lack of support for hospitality will lead to further closures and substantial job losses
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NewsTourist tax will cost British consumers £518m
A new visitor levy will allow mayors to impose a “modest” charge on overnight stays to invest in transport and infrastructure – but UKH said the “damaging” tax will be passed on to domestic tourists and fuel inflation
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NewsNational living wage rises to cost sector £1.4bn
Combined with a higher-than-expected 8.5% uplift in the wage rate for 18-20-year-olds, UKHospitality said the increases represent a total £1.4bn in additional cost for businesses
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NewsNTIA: ‘Brits still want to go out’
Data from the Night Time Industries Association shows that more than three quarters of UK consumers believe they are being priced out of the night-time economy due to rising costs
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Analysis & InsightLeader confidence at five year low
The soaring cost of doing business and pressure on consumer spending mean just just 26% of hospitality leaders feel optimistic for the next 12 months
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Weekend PressBusinesses braced for Budget tax bloodbath
As business brace for a battering in this week’s budget, Emma McClarkin at the British Beer and Pub Association has warned a repeat of last year’s tax-raising would ‘bury’ the hospitality sector, the Daily Mail reports
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OpinionDownbeat assessment of a government ‘that’s throttling us’
Describing the restaurant trade as simply “not great fun” right now, senior leaders spoke of a deterioration in trade which in some dayparts bordered on “catastrophic”
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NewsCreams: ‘Milkshake tax is disappointing but, unfortunately, not surprising’
Amid rumours the Chancellor will announce a ‘milkshake tax’ in the budget, the dessert café brand has warned continued policy-driven cost increases will impact prices and harm high street investment
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NewsBrewDog calls for ‘meaningful action’ to support sector in pre-budget warning
The bar operator and brewer has calculated businesses must sell an extra 950,000 pints every hour to recoup cost surges from energy bills, labour costs and tax hikes
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NewsKERB launches campaign to support independents
KERB’s Seven Dials Market in Covent Garden will offer meals priced at the amount that each trader takes home as profit to spotlight the pressure on operators’ margins
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NewsHospitality insolvencies flat ahead of budget
A further 265 accommodation and food service businesses collapsed in September this year, with RSM UK warning the future of many more will be dependent on the upcoming budget
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NewsRising taxes hit Anglian Country Inns’s bottom line
The group has reported an 8.4% sales rise in its latest financial results, but operating profit fell by around a quarter amid a ‘continual and disproportionately high tax regime’
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NewsThwaites toasts ‘strong performance’ in half-year results
The family brewer and regional pub operator says it has delivered ‘an excellent set of results given the circumstances’ with turnover and profit both up
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NewsLib Dems call for hospitality VAT cut at budget
The party has called for VAT on the sector to be cut to 15%, saying too many people have been ‘priced out’ of ‘small joys’ like a restaurant meal
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NewsThe Coconut Tree appoints administrators
The Sri Lankan restaurant group is facing insolvency proceedings having defaulted on its company voluntary arrangement earlier this year